MILAN — From the new expansive headquarters of J.P. Morgan in New York City to the exclusive rooms of luxury cruise vessels, a boom in contract business and hospitality projects continues to drive Molteni Group’s performance beyond its furniture.
The Giussano, Italy-based group, which is home to home furniture and kitchens firm Molteni&C, office furniture company Unifor and office furnishings and partitions brand Citterio, said its agility in executing projects across these sectors is one of the main reasons why it’s poised for steady growth in the years to come.
In an interview with WWD, Molteni Group chief executive officer Marco Piscitelli told WWD that 50 percent of the luxury furniture group’s business in 2025 was generated from the contract and hospitality facet, while the other 50 percent was derived from retail sales.
“We’ve created almost a system of interconnected vessels, so that if one business or channel experiences a downturn — for example, in retail, which we’ve seen happen — the structure as a whole remains stable,” he said.
Specifically, activity beyond its retail business includes large-scale projects such as cruise ships for Italian shipyard Fincantieri, one of the world’s largest, for 30 years. Through Fincantieri, it has worked on 6,000 passenger ships for Costa and Carnival cruises. It has also developed luxury charter vacations like The Ritz-Carlton Yacht Collection and The Four Seasons Yacht, which like Explora Journeys, a lifestyle brand of cruise vessels designed to feel like a private yacht, are in sync with its own luxury DNA. Molteni Group is also working with high-end residential developments worldwide, premium hotels like the Four Seasons, Aman and Mandarin Hotel chains, as well as with luxury firms like Cartier, Tiffany & Co. and Rolex.
Molteni&C furnishings for Explora Journeys
Courtesy of Molteni Group
The Long-term Game
Piscitelli said in order for firms to capitalize on opportunities from the hospitality and contract sectors, companies have to be in it for the long-term game.
“Hospitality and contract are growing strongly again, and these are businesses that have long-term projections. They are not short-term operations; they require careful planning over time, especially in areas like nautical and cruise ships,” he said, noting that luxury vessels for example take years to complete.
The growing trend underscores the importance of contract and hospitality in the group’s overall business strategy, especially as the sector continues to see growth due to an increased focus on leisure and experiential living. Molteni Group was founded by Angelo and Giuseppina Molteni in 1934. Piscitelli runs the company alongside Angelo and Giuseppina’s descendants.
In 2025, Molteni Group saw sales rise to 562 million euros versus 520 million euros in 2024, despite new U.S. tariffs, a lackluster housing market and a consumer spending slowdown.
“If I look back at the last 10 years and our track record of growth, which has been steady at approximately 10 percent every year, no matter what — crises, wars — we’ve managed, partly through our decisions and partly through good fortune, which is always needed, to build a group that can operate across multiple channels,” he continued.
Molteni&C in Milan.
Courtesy of Molteni&C
Playing Offense
After the COVID-19 pandemic, Molteni Group focused on growing demand for leisure-centric experiences, turning hospitality into one of their most thriving channels, he added. The key to success in the contract business, he said, is having a global network of technicians in place, able to offer “full-cycle support” in the construction and maintenance of sophisticated projects — before, during and after installation. This applies especially for technically complex projects like custom designed kitchens, wardrobes, boiseries, partitions and bespoke furniture tailored to client needs.
Contract and hospitality are a major focus for the industry as a whole. Ahead of Milan Design Week, Salone del Mobile.Milano’s president Maria Porro underscored the importance of integrated architecture of content and exhibition itineraries, announcing the debut of Salone Contract in 2027. The master plan of the project has been entrusted to Rem Koolhaas and David Gianotten of international architecture and urbanism firm OMA.
According to a report published by Market Reports World, a research firm that provides industry reports, trends and forecasts, the surge in global urbanization has resulted in 94 million new housing units delivered across developing nations from 2022 to 2024, spiking the need for interior design services tied to new builds. In major cities, new residential developments accounted for 65 percent of professional interior design service use, the report said.
The 64th edition of Salone del Mobile.Milano will open its doors at FieraMilano Rho trade grounds on Tuesday and will run until April 26. The fair will include two biennials — kitchen expo Euro Cucina and the International Bathroom Exhibition — as well as breakout designer debuts at the annual Salone Satellite curation.
The first new initiative is a narrative installation in the form of an imaginary hotel that is intended to showcase new possibilities for luxury hospitality decor.
During Design Week, Molteni&C will unveil an installation by Italian designer Elisa Ossino studio, titled “Responsive Nature” at the Senato Garden in Central Milan. It will showcase six distinct botanical landscapes, or “botanical worlds,” that integrate nature with architectural design. The firm will also showcase new designs, among them a chair with Argentine designer Cristián Mohaded.
A Modest Outlook
Despite the geopolitical risks and economic instability, which includes the ongoing conflict in the Middle East, Molteni Group’s focus on long-term relationships and agility in complex contract projects has been a main driver amid uncertain times. So far Molteni Group’s stores and projects in the Middle East are ongoing.
In 2026, Piscitelli said the firm is cautiously optimistic about the future, forecasting 5 to 6 percent growth year-on-year. This number could be helped by pipeline projects and positive results from the U.S. market.
“We must always maintain a very reactive attitude. The outlook remains positive. Our level of vigilance, attention and focus remains very high, ready to respond to these impacts that we anticipate.”
The firm holds meetings more frequently to discuss and monitor the global situation. It has also taken measures to increase stock of materials like aluminum where possible, including raw materials. “The crisis has occurred, and its impact is evident — particularly in terms of energy costs and the cost of raw materials.”
